Twitter shares were priced at $26 ahead of the company’s trading debut on the New York Stock Exchange today, giving the company a valuation of more than $18bn.
That makes Twitter the biggest stock market debut since Facebook’s float last year – although admittedly Facebook’s $104bn valuation easily dwarves Twitter’s.
Seven-year-old Twitter isn’t even profitable yet, despite boasting more than 230 million users.
In fact, Twitter made a loss of $64.6m in Q3 of 2013 alone.
Twitter’s share price is above the $23-25 figure announced on Monday.
It is offering 70 million shares.